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Cameron warns Hollande against tax plan

David Cameron today issued a blunt warning to French President Francois Hollande that Britain would not accept a Europe-wide financial transaction tax, insisting it was not "a sensible measure”.

Speaking in Washington ahead of their first meeting since Mr Hollande’s election earlier this month, the Prime Minister said the eurozone leaders needed to take "decisive action” to resolve the crisis over Greece.

Mr Cameron said he was looking forward to their meeting at the British ambassador’s residence, adding they were both agreed on the need to promote growth and tackle their deficits.

However he also made clear his opposition to Mr Hollande’s demands for an EU tax on financial transactions which was a key plank of his election campaign.

He said: "We are not going to get growth in Europe or in Britain by introducing a new tax that would actually hit people as well as institutions.

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